Freja eID Group (FREJA) Investor update summary

Key financial metrics

• Annual recurring revenue (ARR) for Freja eID reached 49.9 MSEK as of June 30, 2026, up 33% year-over-year and 3% quarter-over-quarter.

• Net revenue retention (NRR) was 122%, down 12 percentage points year-over-year and 23 points from March 2026.

• Gross revenue retention (GRR) remained stable at 96% year-over-year, with a 2-point increase from March 2026.

• Net sales for the segment rose 70% year-over-year to 14.3 MSEK and increased 6% from the previous quarter.

• Subscription customers grew 31% year-over-year to 626, and registered users increased 25% to 1,773,000.

Strategic and operational highlights

• Growth driven by international e-identification and Freja OrgID, addressing rising demand for digital and role-based identification.

• Swedish parliament mandated broader support for e-identification among public actors.

• New development environment agreement signed as next step in whitelabel project with Teracom and the Swedish Armed Forces.

• Freja is increasingly positioned as a key part of Sweden's digital infrastructure.